Name: [Ebook PDF] Principles of Managerial Finance, Brief, 7th Edition
SKU: 1508
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[Ebook PDF] Principles of Managerial Finance, Brief, 7th Edition

ISBN-13: 978-0133546408
ISBN-10: 0133546403

Author: Lawrence J. Gitman (Author), Chad J. Zutter (Author)

For Introduction to Managerial Finance courses.

Guide students through complex material with a proven learning goal system. This system – a hallmark feature of Principles of Managerial Finance, Brief —weaves pedagogy into concepts and practice, giving students a roadmap to follow through the text and supplementary tools.
MyFinanceLab for Principles of Managerial Finance: Brief, Seventh Edition creates learning experiences that are truly personalized and continuously adaptive. MyFinanceLab reacts to how students are actually performing, offering data-driven guidance that helps them better absorb course material and understand difficult concepts – resulting in better performance in the course. A dynamic set of tools for gauging individual and class progress means educators can spend less time grading and more time teaching.

PREFACE

The desire to write Principles of Managerial Finance, Brief came from the experience of teaching the introductory managerial finance course. Those who have taught the introductory course many times can appreciate the difficulties that some students have absorbing and applying financial concepts. Students want a book that speaks to them in plain English and a book that ties concepts to reality. These students want more than just description; they also want demonstration of concepts, tools, and techniques. This book is written with the needs of students in mind, and it effectively delivers the resources that students need to succeed in the introductory finance course.

Courses and students have changed since the first edition of this book, but the goals of the text have not changed. The conversational tone and wide use of examples set off in the text still characterize Principles of Managerial Finance, Brief. Building on those strengths, 7 editions, numerous translations, and well over half a million U.S. users, Principles has evolved based on feedback from both instructors and students, from adopters, nonadopters, and practitioners. In this edition, Larry and I have worked to ensure that the book reflects contemporary thinking and pedagogy to further strengthen the delivery of the classic topics that

our users have come to expect.

CHANGES TO T SEVENTH E

As we made plans to publish the seventh edition, we carefully assessed feedback from users of the sixth edition as well as instructors not currently using our text about content changes that would improve this teaching and learning tool.

In every chapter, our changes were designed to make the material more up to date and more relevant for students. A number of new topics have been added at appropriate places, and new features appear in each chapter:

• The Matter of Fact feature provides additional detail and interesting empirical facts that help students understand the practical implications of financial concepts. Many of these features have been updated or replaced in the seventh edition.

• The new MyFinanceLab Financial Calculator allows students to find the solution for an example by inputting the keystrokes shown in the calculator screenshot.

• The new MyFinanceLab Solution Videos allow the student to watch a video of the author discussing or solving the example. There are also MyFinanceLab Videos on related core topical areas.

• The new Interest Rate Factor (IRF) Supplement is a self-contained supplement which explains to the student how to use the interest rate factors, and works seamlessly with the textbook, so the student can go directly to the IRF Supplement and see the in-chapter example solved using the interest rate factors.

• We also made changes to many of the problems at the end of each chapter The chapter sequence is essentially unchanged from the prior edition, but there are some noteworthy changes within each chapter. This edition contains 15 chapters divided into seven parts. Each part is introduced by a brief overview, which is intended to give students an advance sense for the collective value of the chapters included in the part.

Part 1 contains two chapters. The first provides an overview of the role of managerial finance in a business enterprise. The second describes the financial market context in which firms operate and provides expanded and updated coverage of the recent financial crisis and its lingering consequences. This chapter not only explores the root causes and effects of the financial crisis, but it also discusses the changing regulatory landscape within which financial institutions and markets function.

Part 2 contains three chapters focused on basic financial skills such as financial statement analysis, cash flow analysis, and time-value-of-money calculations.

Part 3 focuses on bond and stock valuation. We placed these two chapters just ahead of the risk and return chapter to provide students with exposure to basic material on bonds and stocks that is easier to grasp than some of the more theoretical concepts in the next part.

Part 4 contains the risk and return chapter as well as the chapter on the cost of capital. We believe that following the risk and return chapter with the cost of capital material helps students understand the important principle that the expectations of a firm’s investors shape how the firm should approach major investment decisions (which are covered in Part 5). In other words, Part 4 is designed to help students understand where a project “hurdle rate” comes from before they start using hurdle rates in capital budgeting problems.

Part 5 contains two chapters on various capital budgeting topics. The first of these chapters focuses on capital budgeting methods such as payback and net present value analysis. The second chapter in this part explains how financial analysts construct cash flow projections, which are a required component of net present value analysis, and describes how firms analyze the risks associated with capital investments.

Parts 6 deals with the topics of capital structure and payout policy. These two chapters contain updated material on trends in firms’ use of leverage and their payout practices.

Finally, Part 7 contains two chapters centered on working capital issues. A major development in business has been the extent to which firms have found new ways to economize on working capital investments. The first chapter in Part 7 explains why and how firms work hard to squeeze resources from their investments in current assets such as cash and inventory. The second chapter in this part focuses more on management of current liabilities.

Although the text content is sequential, instructors can assign almost any chapter as a self-contained unit, enabling instructors to customize the text to various teaching strategies and course lengths.

Like the previous editions, the seventh edition incorporates a proven learning system, which integrates pedagogy with concepts and practical applications. It concentrates on the knowledge that is needed to make keen financial decisions in an increasingly competitive business environment. The strong pedagogy and generous use of examples—including personal finance examples—make the text an easily accessible resource for in-class learning or out-of-class learning, such as online courses and self-study programs.